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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Monday, October 3, 2011

Greek default may be the shock Europe needs to act

Greek default may be the shock Europe needs to act
Independent Online
Denial finally seemed to make way for reality last weekend when finance ministers largely accepted Greece would default. This means investors in Greek debt stand to lose between 20 percent and 50 percent of their investments. ...

Ghosts Could Be Lurking in Banking Machines
Wall Street Journal
A big problem for investors is varied, sparse or confusing disclosure about derivatives exposures—even after the financial crisis showed that the inter-connectedness of firms is often as big a threat as their size. Indeed, in just the US, ...

Tighter rules on capital: Bankers versus Basel
Financial Times
On one side: Jamie Dimon, chief executive of JPMorgan Chase, one of the world's largest banks and one of the few institutions to emerge from the financial crisisrelatively unscathed. On the other: the silver-tongued Mark Carney, formerly of Goldman ...

New York Fed May Demand Liquidity Reports From European Banks
BusinessWeek
Euro-zone banks and other institutions were more than $350 billion in debt to the Fed's emergency-lending facilities at one point during the 2008-2009 financial crisis, according to data compiled by Bloomberg News. The analysis was based on Fed ...

Korea's CDS premium jumps in September
Korea Times
By Kang Seung-woo The cost of insuring Korea's sovereign debt against a default rose dramatically in September, according to a state-run think tank Sunday. The heightened uncertainty surrounding the eurozone debt problems and the sluggish US economy ...

Slovakia Wants a Plan for a Greek Default as Talks are Stuck
Business Insider
The finance minister of Slovakia said that the euro zone should prepare for a scenario of a coordinated default of Greece in order to prevent contagion. He awaits the report of the troika regarding Greece. The report might show that Greece's debt is ...

Default retirement age ends in Britain
Press TV
Britain has ended the employers' right to force their staff to retire when they reach 65 under the Employment Equality Regulations introduced in April. The regulations were approved in 2010 and the retirement age provisions were phased out beginning in ...

Column : Deepening fiscal crisis
Financial Express
: India was one of the few countries that recovered within four quarters of the global financial crisis. The swift recovery, combined with large fiscal deficit and debt in the country, prompted the exit from the stimulus. Thus, the fiscal consolidation ...

Investors brace for more market chaos
The National
Across the Atlantic, demonstrators have also taken to the streets in Greece to oppose public-sector cuts the country needed to enact to secure more aid and avoid a sovereign default many observers say is inevitable. "It's going to default, ...

Nouriel 'Dr. Doom' Roubini on Why 'Karl Marx Was Right'
International Business Times
Economist Nouriel "Dr. Doom" Roubini, the New York University professor who four years ago accurately predicted the global financial crisis, said one of economist Karl Marx's critiques of capitalism is playing itself out in the current global financial...

Crude Oil Analysis for the Week of October 3, 2011
OilPrice.com
The possibility of a default by Greece was also a major weight on crude oil prices. The rise in the Greenback encouraged investors to flee commodities priced in dollars. Despite building negative sentiment, crude oil has held up quite well compared to ...

Financial Crisis as Opportunity
Tucson Citizen
by suzanne on Oct. 01, 2011, under The Right To Be Heard In this book , Douglas Rushkoff makes the observation that, "Most of us spend so much time working and consuming that we have very little time and energy left to anything that has to do with ...

Investors Sing a New Tune—'Won't Get Fooled Again'
Wall Street Journal
The risk of Greece defaulting on its debt has some people worried about a repeat of the US-led financial crisis of 2008. Mr. Woolfolk sees "denial" in the talk of "if" that will happen. "We think it's just a matter of timing," he says. A default by ...

Coming Week: 10 Reasons Black September Could Become Red October
Seeking Alpha
Until we've a credible plan to prevent a Greek default from becoming a global banking crisis, we suspect more, potentially much more, downside risk remains. We have a typically packed first week of the month, with the added drama of yet another month ...

Saving the rich, losing the economy
Tehran Times
When financial crisis from excessive debt hit the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) their central banks could not print euros in order to buy up their bonds, as the Federal Reserve did with “quantitative easing. ...

Copper ends down on Friday
Ninemsn
Copper ended down on Friday in its biggest quarterly loss since the height of the financial crisisthree years ago, as threats to the global economy gave rise to an increasingly bearish mood among investors. The economically sensitive metal lost more ...

Currency Revulsion
Credit Writedowns
Clearly the US government cannot involuntarily default on a currency obligation it can manufacture in infinite quantities. The same is true in Japan or Australia. Ask yourself why Italy and why not Japan when thinking about highly indebted nations ...

Danger from the Euro, malpractice at the Fed
Washington Times
Investors began to worry about bonds issued by the governments of the PIIGS(Portugal, Ireland, Italy, Greece, and Spain). The European Financial Stability Facility (EFSF) and a separate bailout for the Greek government were arranged, to the tune of...

Economic blueprint and eurozone turmoil
Vanguard
Few would forget very soon, if not for life, the financial crisis which shook most of the Western economies – starting with the meltdown in mortgage sector in the US and moving to Europe three years ago. The capital markets were devastated across the ...

Banking crisis set to trigger new credit crunch
Telegraph.co.uk
Credit default swaps on Bank of China bonds have more than doubled since the beginning of August and hit 316.53 basis points at the end of last week, their highest level since March 2009, while the lender's shares hit a 12-month low. ...

Greek Ills Infect the Neighbors
Wall Street Journal
Those two markets, which had managed to defy debt concerns for much of the year, joined the selloff as fresh growth worries and fears of contagion from the periphery persuaded investors to dump even the safest, most liquid stocks. ...

Ohioans struggle to repay student loans
Columbus Dispatch
“The economy has not gotten much better in the past year, and if anything it will get a little worse, which means higher student-loan-default rates for the near future,” said Laura Meek, financial-aid director at Ohio Dominican University. ...

Investors Sour on Developing World
Wall Street Journal
By MATT WIRZ Investor disenchantment with emerging-market stocks intensified in the third quarter amid mounting fears of slowing global growth and financial contagion. The MSCI Emerging Markets Index 23% over the quarter, compared with 17% for all ...

The World Prepares to Default | Idril's Blog
By Idril Dangerfield
Greece is a goner and they're just trying to figure out how to make it an orderly default. The world is preparing to default. To top it all off it looks like all the lending the banks and government were doing in China to prop up the bubble wasn't ...
Idril's Blog

TEDx Talk on the REAL cause of the Financial Crisis « Jem ...
By jembendell
The Knight agrees you can keep the tokens with one condition – that he has the option to take from you 11 tokens at the end of the year, or seize your assets if you default. As you find the tokens so helpful, you agree. A few months go by, and ...
Jem Bendell's Journal

Stocks Finish Worst Quarter Since Financial Crisis
TheStreet.com
All three major US indices lost more than 10% during the third quarter, making it their worst since the financial crisis kicked into gear in late 2008 following the implosion of Lehman Bros. The Dow Jones Industrial Average closed just four points ...

'Europeans Finally Get It'
Wall Street Journal
Reality: This is at least the fifth wake-up call for Europe's leaders to prevent a disorderly default of sovereign debt by Greece and possibly other southern European countries. Rex Nutting, MarketWatch's Washington-based international commentary ...